Interfront 2025 Annual Report

69 GOVERNANCE 04 Interfront Board The Board of Directors, as the accounting authority of Interfront, is committed to providing strategic oversight and sound governance to ensure the company’s continued growth and sustainability. The Board’s composition reflects a balancedmix of skills, experience, and expertise, enabling it to effectively guide the organisation in achieving its strategic objectives. During the 2024/2025 financial year, the Board continued to prioritise good governance, transparency, and accountability, in line with both legislative requirements and best practice standards. Through active engagement and collaboration, the Board has worked diligently to support management in addressing challenges and capitalising on opportunities within a dynamic operating environment. The diversity within the Board fosters a holistic perspective on strategic decision-making, while the collective experience of its members contributes to well-informed and balanced governance practices. This approach not only ensures the effective stewardship of the organisation’s resources but also supports the creation of long-term value for stakeholders. As Interfront continues to evolve, the Board remains dedicated to upholding the highest standards of governance while fostering a culture of accountability and responsible leadership. Role of the Board The Board of Interfront plays a fundamental role in the effective governance and strategic direction of the company. ITS KEY RESPONSIBILITIES INCLUDE: STRATEGIC LEADERSHIP: setting the strategic direction of the company and overseeing its implementation. Approving the strategic plan, annual performance plan, and budget. CORPORATE GOVERNANCE: Upholding standards of corporate governance, aligned with the King IV principles. Ensuring compliance with relevant legislation, including the Companies Act, PFMA, and B-BBEE Act. RISK MANAGEMENT: Overseeing the implementation of effective risk management practices. Reviewing and approving the risk management framework and internal control systems. FINANCIAL OVERSIGHT: Monitoring financial performance and ensuring the integrity of financial reporting. Approving annual financial statements and ensuring compliance with accounting standards. PERFORMANCE MONITORING: Evaluating the performance of the company against set objectives. Ensuring that performance information is accurate, complete and reliable. STAKEHOLDER ENGAGEMENT: Ensuring effective communication with stakeholders, including the SARS and other relevant entities. Maintaining transparency and accountability to stakeholders. HUMAN RESOURCES AND ETHICS: Appointing and evaluating the performance of the CEO and other executive management. Promoting an ethical culture and ensuring compliance with human resource policies. INTERNAL CONTROL AND ASSURANCE: Ensuring the establishment of a sound system of internal controls. Overseeing the effectiveness of the internal and external audit functions. POLICY OVERSIGHT: Reviewing and approving key governance frameworks, policies, and procedures. Ensuring that policies are aligned with legislative requirements and best practices.